Sales Intensify on the Outskirts of the Island of Montreal

L’Île-des-Sœurs, June 6, 2019 – The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its most recent residential real estate market statistics for the Montreal Census Metropolitan Area (CMA), based on the real estate brokers’ Centris provincial database.

In total, 5,607 residential sales were concluded in May 2019, a 6 per cent increase compared to May of last year. This was also the 51st consecutive monthly increase in sales.

Sales by geographic area

The main geographic areas on the periphery of the Island of Montreal registered sustained increases in sales in May.

The North Shore, Laval, the South Shore and Saint-Jean-sur-Richelieu all showed strong momentum with respective sales increases of 15, 15, 10 and 17 per cent.

In contrast, sales on the Island of Montreal fell slightly by 1 per cent, while sales in Vaudreuil-Soulanges decreased by 12 per cent.

Sales by property category

Across the Montreal CMA, sales of single-family homes increased by 5 per cent (3,048 transactions), sales of condominiums rose by 7 per cent (2,001 transactions) and sales of plexes (2 to 5 dwellings) jumped by 13 per cent (550 transactions), compared to May of last year.

Prices

The median price of single-family homes across the CMA continued to climb, growing by 5 per cent to reach $340,000. The median price of condominiums increased by 2 per cent to reach $261,000.

Plexes registered the largest increase in median price, rising by 6 per cent year over year to reach $550,000.

Number of properties for sale

In May, there were 19,915 active residential listings in the Montreal CMA, an 18 per cent decrease compared to May of last year.

“Properties are selling faster and faster in the Montreal area, as the average selling time – for all property categories combined – stood at 69 days in May, which is 14 days less than one year ago,” said Nathalie Bégin, president of the QPAREB board of directors. “Single-family homes and plexes are selling the quickest, with respective selling times of 63 days and 71 days, while it takes an average of 77 days for a condominium to find a buyer,” she added.

About the Quebec Professional Association of Real Estate Brokers

The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 12,500 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec’s residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB is headquartered in Quebec City and has its administrative offices in Montreal. It has two subsidiaries: Centris Inc. and the Collège de l’immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn and Twitter.

About Centris

Centris.ca is Quebec’s real estate industry website for consumers, grouping all properties for sale by a real estate broker under the same address. Société Centris provides real estate industry stakeholders with access to real estate data and a wide range of technology tools. Centris also manages the collaboration system used by more than 13,000 real estate brokers in Quebec.